Being Good Is Good For Business Case Study

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Recommended: The importance of Business Ethics

“Being Good is good for Business.” – Anita Roddick states in a concise manner. A business decision is a settlement made concerning a business, which aims at providing benefits to its stakeholders. Morality can be defined as the principles governing the distinction between right and wrong, or good and bad behavior. Business decisions definitely have a lot to do with morality. Business ethics involves the creation and application of morals in a business environment. It is impossible to have someone make decisions solely for the organization’s betterment without analyzing how moral understandings of people are impacted. “Smart Business” mentions in an article that with an understanding of values, ethics and morals while using ethical principles, a business owner or leader can form a framework for effective decision-making with formalized strategies. Decision makers are bound to face a dilemma at some point or the other when they would have to choose between what abides by moral values and what doesn’t. This essay shall discuss how business decisions and morality are closely …show more content…

Values such as sensitivity to religion when dealing with multiple countries can lead to organizations performing extremely well in market competition. Corruption has been seen as being immoral and undermines market efficiency, which results in unhealthy competition, instability and inequality. Analyzing the case of Chang Guann Co. reveals that health of consumers is of utmost importance in any country. Businesses and its related agents such as owners and employees should have moral obligations. Businessmen should not take part in fraud and be honest in their work. “The Freeman” explains that the market rewards trustworthy, honest and cooperative businessmen. In conclusion, businesses and companies that adhere to morals perform better in the economy and enjoy greater

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